Trump approves $14B US takeover of TikTok
President Donald Trump has signed off on a $14 billion deal letting American investors take control of TikTok from its Chinese parent, ByteDance.
The move follows a 2024 law that bans apps owned by foreign adversaries unless they're sold.
Under the agreement, ByteDance will hold less than 20%, while big names like Larry Ellison and Rupert Murdoch are among the new investors.
Significance of the deal
This deal means TikTok's algorithm and privacy protections for around 170 million Americans will now be managed in the US—aiming to prevent foreign interference and boost privacy.
After years of security worries about Chinese ownership, this shift lets TikTok stay available in the States while meeting new legal requirements.
It also highlights just how central TikTok has become in both politics and tech relations between the US and China.